• Gives airlines discount on debt to aviation agencies
• Operators seek total waiver

President Bola Tinubu has reaffirmed Nigeria’s commitment to strengthening economic and diplomatic ties with the United Kingdom (UK), as British Airways celebrates 90 years of operations in Nigeria.
 
Also, to cushion the rising cost of aviation fuel, the Federal Government has disclosed plans to grant airlines a discount on the funds owed to aviation agencies. The decision followed plans by the airlines to embark on a strike in protest of an increase in the price of Jet A1.
 
Tinubu gave the assurance while receiving a British Airways delegation at the Presidential Villa, Abuja, led by the British High Commissioner to Nigeria, Richard Montgomery, and the airline’s Commercial Officer, Colm Lacy.
 
Framing the anniversary as both symbolic and strategic, Tinubu said the nine-decade relationship underscored enduring cooperation between Nigeria and Britain, particularly in aviation, trade and investment.
 
“It is great joy to share with you this afternoon. The transformation and strengthening of our relationship over the past 90 years is a milestone worthy of celebration,” the President said, recalling his recent visit to the UK and the reception by King Charles III.
 
He noted that Nigeria values its long-standing ties with the British monarchy and the Commonwealth, adding that shared priorities, especially in sustainability and economic cooperation, would continue to guide bilateral engagement.
 
The President highlighted ongoing economic reforms in Nigeria, stressing the need to meet global standards, boost investor confidence, and deepen people-to-people connections.
 
“Nigeria is still going through reforms and transformation of our aviation industry and every aspect of our economy. We must meet global standards and encourage connectivity while promoting trade and partnership,” he said.
 
He also pointed to efforts by the Central Bank of Nigeria (CBN) to clear outstanding liabilities owed to foreign airlines, describing the move as critical to restoring confidence and strengthening international partnerships.
 
Commending British Airways’ role in linking Nigeria to global markets, Tinubu said the airline remained a key enabler of trade, tourism, and cultural exchange between both countries.
 
In his remarks, Lacy described Nigeria as one of British Airways’ most important markets, noting that the airline’s presence since 1936 supported generations of Nigerians through business, education, and travel.

THE Minister of Aviation and Aerospace Development, Festus Keyamo, announced the discount plan yesterday in Abuja after a closed-door meeting with airline operators.
 
He said Tinubu, during an earlier meeting, had directed him to submit a memo to him indicating the discount to be given to the airlines on debt owed to Nigeria Civil Aviation Authority, Federal Airport Authority of Nigeria (FAAN) and the Nigeria Airspace Management Agency (NAMA).
 
Keyamo said: “I had the privilege of meeting with the President to brief him on the outcome of the meeting. During the discussion, he directed that a formal written request be submitted to him first thing tomorrow morning. He assured that the initial request he would consider and approve is a generous discount on the debts owed by airlines to aviation agencies, including NAMA, FAAN, NCAA, among others.
 
“He specifically instructed that the request should not be delayed for a council memo but forwarded to him as early as possible, with details such as the proposed percentage of the discount. He will make a final decision on this.”
 
The Chairman of AirPeace, Allen Onyema, speaking on behalf of Airline Operators of Nigeria (AON), commended the President for the discount and called for a complete waiver of the debt pending the resolution of the Strait of Hormuzdisruption.
 
Speaking on their plan to shut down operations, Onyema said: “We threatened to shut down, not because we wanted to shut down, but because we had no money anymore, and cannot continue to borrow money from the banks just to pay for fuel and neglecting other things that are supposed to be done in the visual industry.” 
 
He also appealed to the President to increase funding for the Bank of Industry (BOI) so that it can access credit facilities at a lower interest rate.